Pfizer, Warner-lambert Merger Gains Ftc Approval

June 20, 2000|By From Tribune News Services.

WASHINGTON — The Federal Trade Commission cleared the way Monday for a $90 billion merger between drug manufacturing giants Pfizer Inc. and Warner-Lambert Co. that is expected to make the new Pfizer the largest pharmaceutical company in the world.

The FTC voted 5-0 to approve the deal, which still requires final approval by a federal court.

The merger leaves the combined company dominating many U.S. medicine cabinets. Together, they hold many of the world's best-known brands, including Halls, Benadryl, Sudafed, Listerine, Schick, Visine, Ben Gay, Lubriderm, Zantac and Cortizone.

The FTC agreed to the merger after the companies consented to divest some businesses that federal regulators believed might otherwise constitute a monopoly.